The Character Group sees 'record profits' in latest preliminary results

The Character Group has revealed it is ‘ahead of results’ in its latest preliminary results for the year ended August 31st, 2015.

The company has reported a record profit before tax of £12.27 million, up 73 per cent, compared to £7.11 million for the previous year on revenues of £99.05 million.

The firm revealed that its iconic and stable ranges are continuing to sell through well.

The Character Group revealed that Peppa Pig, Minecraft, Fireman Sam, Teksta, Little Live Pets, Scooby Doo, Doctor Who and the company’s Activity ranges proved to be the most important brands over the course of the year. Plus, Teletubbies will soon join the range in 2016.

Gross profit increased from £29.14 million in 2014 to £36.66 million in 2015, with gross profit margins increasing to 37 per cent, which was at 29.8 per cent in 2014.

Group revenue is up by 1.2 per cent, while basic earnings per share has increased by 75.6 per cent.

Richard King, executive chairman at The Character Group, said: “The profit before tax in 2015 is ahead of results previously anticipated and we are pleased to report that current trading remains encouraging and in line with management expectations.

“Our new ranges coming to market over the next calendar year are very exciting and already receiving great reviews from both our customers and the trade media.

“On this basis, we are confident that the cornerstone brands and the new season’s ranges will deliver in terms of demand and sales at consumer level across both our UK and international markets. At this stage we believe that our underlying performance should be able to deliver another year of solid progress."